Connecticut is a small state in the Northeastern part of the United States. Given its geography, Connecticut is often viewed as the “little brother” of New York and Massachusetts–depending on who you ask.
With its close proximity to major hubs like New York City and Boston, Connecticut offers foreign nationals real estate markets with easy access to major metropolitan centers. Depending on where you choose to invest, you will find that Connecticut has diverse real estate markets at widely varying price points.
If you're a foreign national exploring real estate investments, here are five cities in Connecticut that should be on your radar.
Stamford is one of Connecticut’s largest cities with a population of over 130,000. People seeking the amenities of New York, without compromising on location are drawn to this Connecticut city just outside of New York. It sits just 40 miles outside of New York City and is connected to it by both highway and train. That makes Stamford an ideal commuter location and strong rental market.
Stamford’s strong economy, driven by the finance and tech sectors, along with high rental demand, makes it a top choice for foreign investors looking for stable, long-term returns. In fact, Stamford has more renters than homeowners, with renters making up 54% of households.
Fun fact, New Haven is considered the pizza capital of the United States. But beyond its delicious cuisine, it has equally appetizing rental returns.
As the home of Yale University, New Haven is a hub for innovation in bioscience and tech. It attracts a steady stream of renters, particularly students from the various colleges in the city.
Despite the city's prestigious academic and cultural reputation, New Haven has surprisingly affordable property prices. Home values are appreciating as demand increases due to its relative affordability and connectivity to New York City by train.
You might be wondering why Hartford prices are significantly lower than Stamford. Despite being the capital, Hartford is geographically further from major metropolitan areas like New York and Boston.
Even so, Connecticut's capital is a city with strong rent-to-price ratios where investors can invest at lower price points with higher relative returns. Known primarily for the insurance industry, this city also has many healthcare and government employers. These industries provide a degree of economic stability. That combined with a steadily increasing population since 2021 means there’s no shortage of renters looking for housing.
Always dreamed of owning a piece of New England? Stonington, Connecticut, is the perfect place to turn that dream into reality.
This charming coastal town offers more than just picturesque views. Its prime location, less than an hour’s drive from Providence, Rhode Island, and near popular tourist destinations like Mystic and the Foxwoods and Mohegan Sun casinos, ensures a steady stream of visitors. This makes it an ideal spot for short-term rentals, generating an average of $30,500 per year in income. Additionally, Stonington's growing tourism industry creates a strong demand for long-term rentals, providing housing for essential hospitality workers. Plus, Stonington's thriving economy and strong community make it a promising investment for long-term property appreciation.
Connecticut’s real estate market offers a variety of investment opportunities, from upscale coastal communities to affordable urban areas. For foreign investors, the state’s proximity to major cities, along with its diverse economy, makes it a prime location for real estate investment.
Interested in exploring real estate investment opportunities in Connecticut? Waltz can guide you through the process from start to finish. Simply fill out an interest form to get started.
All figures are accurate as of October 2024 and may change over time.* Sources for all city-related statistics:
Home price data: Zillow Housing Market
Rental price data: Zillow Rental Market Trends
Property tax data: Smart Asset Property Tax Calculator
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